QED Connect, Inc.'s Joint Venture Partner Sofame Technologies Inc. Receives Order From Leading U.S. Turkey Processor
MANCHESTER, N.H., Sept. 21, 2011 /PRNewswire/ -- QED Connect, Inc. (OTC Pink: QEDN) ("QED Connect") today announced that its joint venture partner, Sofame Technologies Inc. ("Sofame Technologies") (TSXV: SDW), has been awarded a contract from Butterball, LLC., the largest producer of turkey products in the United States. The purchase order is for Sofame's Hybrid Percomtherm® unit for its Mount Olive plant in North Carolina. The equipment, which operates at 96% efficiency, combines condensing recovery of waste heat from existing boilers with a new direct contact condensing burner to heat water.
"Butterball is dedicated to being a good steward of the environment, and is pursuing many innovative environmental initiatives surrounding resource conservation, pollution prevention, and upgrades to environmental sustainability," said Steve Valesko, Vice President of Engineering for Butterball, LLC. "Butterball is using advanced environmental technology to collect real-time, enterprise-wide data, measure actual performance, and recommend new solutions to reduce energy and water use, as well as carbon emissions. The Sofame project touches all three of these areas," added Valesko.
According to John Gocek, Sofame's President & CEO, "Sofame is excited to offer its energy and cost saving solutions to Butterball. This project will recycle energy to heat process water. It is a perfect example of how Sofame's products achieve cost savings, lower energy consumption and contribute to carbon footprint reduction."
Tom Makmann, CEO of QED Connect, added, "Our partner, Sofame Technologies, continues to receive orders for its products and have positioned itself as a leader in environmentally efficient industrial hot water systems and cost effective heat recovery equipment. This order is part of the $1.4M announced earlier and we are confident that the Joint Venture, Sofame Energy, will be a significant contributor to QED's longer term strategy. QED has been developing its strategy to acquire and enter into joint ventures with targeted operating companies by providing financial and management resources to these companies for the purpose of generating revenues and operating profits. The Company believes, but cannot guarantee, that we are on track to generate income in the 4th quarter of this year and continue through 2012 providing shareholder value."
About Butterball, LLC.
Butterball, LLC. is the largest producer of turkey products in the United States and also offers a broad array of products for deli, retail and foodservice. Headquartered in Garner, N.C., Butterball produces 1 billion pounds of turkey each year, and supplies its products to more than 50 countries. The company's three-pronged approach to Doing Business Right focuses on self-governance, sustainability and social responsibility. The initiative plays a key role in providing internal oversight for integrating values that are important to the company, in particular its efforts to reduce its environmental footprint. The industry leader has seven plants located throughout the United States. For more information: www.butterball.com
About QED Connect, Inc.
QED Connect, Inc. is a holding company which makes acquisitions, investments, and enters into strategic business partnerships. QED Connect seeks businesses with strong potential which it can assist in achieving their plans and realizing their maximum potential. QED Connect helps its partners and subsidiaries realize growth, which will in turn enhance QED Connect's shareholder value. For more information about QED Connect, visit www.qedconnect.com
About Sofame Technologies Inc.
Sofame Technologies Inc. custom engineers and manufactures unique, high-efficiency direct-contact industrial hot water systems which extract up to 99 percent of heat from flue gases depending on the application, and return the energy in the form of high-temperature hot water or pre-heated make-up air. Sofame's products help hospitals, food processing plants, universities, central heating plants, utilities and many more large energy consumers to significantly reduce fuel costs and greenhouse gas emissions. Using world-leading, patented green technology, Sofame serves industrial, institutional and commercial markets through a network of dedicated engineering representatives. For more information, visit www.sofame.com.
Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of QED Connect, Inc., (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to complete the Joint Venture with Sofame and to fund QED's overall expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its Joint Venture with Sofame and to fund QED's growth, generally ; (iii) successfully obtain and fill potential Joint Venture product orders; (iv) generate sufficient revenue and efficiently manage operations to obtain profitability ; (v) competitive factors and developments beyond the Company's control; and (vi) other risk factors.
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SOURCE QED Connect, Inc.